Early Life
Graeme Hart was born in Auckland, New Zealand, in 1955. He came from a modest background, and after leaving school at 15, he worked as a tow-truck driver and panel beater. This early experience instilled a strong work ethic, which would later fuel his success. In 1987, Hart earned an MBA from the University of Otago.
Rise to Success
Hart's business career began with the purchase of a small hire company. He then embarked on a series of leveraged buyouts. In 1990, he acquired the New Zealand Government Printing Office, starting his career in acquiring undervalued assets. He acquired Whitcoulls Group in 1991. His most significant success came in the packaging industry. Through Rank Group, he acquired companies with stable cash flows and strong market positions. He bought Carter Holt Harvey in 2006 and Alcoa's Packaging & Consumer group in 2008. His strategy involved acquiring underperforming companies and restructuring them to increase efficiency and profitability.
Key Business Strategies
Hart's business approach centers on leveraged buyouts (LBOs). He acquires undervalued or underperforming companies, often with debt financing. His approach emphasizes operational efficiencies, debt-financed purchases, and rapid consolidations. Hart focuses on cost-cutting and restructuring to improve profitability. His acquisitions include Reynolds Packaging Group, SIG Combibloc, and Evergreen Packaging.
Philanthropy
Hart has been involved in philanthropic efforts. He donated to the University of Otago for a dental teaching facility and to relief efforts in Tonga. Hart also made donations to political campaigns in New Zealand.
